Complete free trade is not politically feasible. Why? Because it's only in the general interest and in no one's special interest.

Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.

There's a smokestack on the back of every government program.

George Stigler was a delightful correspondent. In a letter from London in 1948, after remarking on the inconvertibility of the pound and the inedible, still-rationed food, he concluded, "So here I am losing weight and gaining pounds.

When you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought through, and are made effective.

Undoubtedly Internet has reduced the possibilities of taxation. Why should I buy something here if I can buy it from a company in Japan or England or Brazil with a lower tax?

I would say that in this world, the greatest source of inequality has been special privileges granted by government.